The retail price of all grades of petrol will fall by 15c per litre (c/l) on Wednesday August 1, the Department of Minerals and Energy announced on Friday.
This follows an 8c/l fall on July 4 and a 23c/l rise that took effect on June 6.
The latest changes bring the retail price of a litre of 95 octane unleaded petrol in Gauteng to 701c/l and to 677c/l at the coast. This follows the previous all-time highs of 724c/l and to 700c/l set earlier last month.
During the period under review, the average international product prices of petrol decreased while diesel and illuminating paraffin increased.
The average rand/United States dollar exchange rate strengthened when compared with the previous period. The average rand/US dollar exchange rate for the period June 29 2007 to July 26 2007 was 6,9782 compared with 7,1948 during the previous period, it was reported.
The wholesale price of diesel 0,05% sulphur will increase by 15c/l and that of 0,005% sulphur will also rise by 15c/l on the same date.
The wholesale price of illuminating paraffin will rise by 7c/l, while the single maximum national retail price of illuminating paraffin will increase by 10 cents. — I-Net Bridge